South Bend-Mishawaka, IN-MI Metro Area Mortgage Lenders & HMDA Data, 2023
In 2023, lenders reported 12,297 mortgage applications in South Bend-Mishawaka, IN-MI metro area totaling $2.0 billion, down 22% from 2022. The average application was for $166,218, and applicants reported an average income of $101,522. 57% of applications resulted in an originated loan and 18% were denied. The most active lender was Notre Dame Federal Credit Union, with 1,307 applications, followed by Everwise Credit Union and 1st Source Bank.
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| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 12,297 |
| Total Mortgage Loan Application Amount | $2,043,985,000 |
| Average Mortgage Loan Application Amount | $166,218 |
| Highest Mortgage Loan Application Amount | $60,855,000 |
| Average Applicant Income | $101,522 |
| Highest Applicant Income | $5,800,000 |
Top Mortgage Lenders in South Bend-Mishawaka, IN-MI Metro Area (2023)
Ranked by the number of mortgage applications each lender reported in South Bend-Mishawaka, IN-MI metro area in 2023.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Notre Dame Federal Credit Union Notre Dame, IN |
1,307 | $147,185,000 | $112,000 | $101,000 |
| 2 | Everwise Credit Union South Bend, IN |
857 | $92,685,000 | $108,000 | $88,000 |
| 3 | 1st Source Bank South Bend, IN |
818 | $101,460,000 | $124,000 | $132,000 |
| 4 | Hallmark Home Mortgage, LLC Fort Wayne, IN |
491 | $79,655,000 | $162,000 | $78,000 |
| 5 | Ruoff Mortgage Company Fort Wayne, IN |
383 | $69,675,000 | $181,000 | $85,000 |
| 6 | Cardinal Financial Company, Li Charlotte, NC |
368 | $56,580,000 | $153,000 | $74,000 |
| 7 | First Federal Savings Bank Rochester, IN |
239 | $46,935,000 | $196,000 | $127,000 |
| 8 | United Federal Credit Union St. Joseph, MI |
227 | $26,755,000 | $117,000 | $93,000 |
| 9 | JPMorgan Chase Bank, NA Columbus, OH |
222 | $38,890,000 | $175,000 | $83,000 |
| 10 | US Bank, N.A. Cincinnati, OH |
207 | $29,425,000 | $142,000 | $67,000 |
See every lender active in South Bend-Mishawaka, IN-MI metro area in 2023 »
The tables below break down 2023 mortgage applications in South Bend-Mishawaka, IN-MI metro area by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for South Bend-Mishawaka, IN-MI in 2023
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 5,679 | $1,254,035,000 | $220,000 | $60,855,000 | $106,000 | $5,800,000 |
| Cash-out Refinancing | 2,264 | $298,130,000 | $131,000 | $1,435,000 | $81,000 | $2,537,000 |
| Other Purpose | 1,759 | $135,525,000 | $77,000 | $1,205,000 | $108,000 | $4,648,000 |
| Home Improvement | 1,528 | $105,190,000 | $68,000 | $2,575,000 | $101,000 | $1,800,000 |
| Refinancing | 1,025 | $247,275,000 | $241,000 | $55,675,000 | $109,000 | $3,055,000 |
| Not Applicable | 42 | $3,830,000 | $91,000 | $535,000 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 8,008 | $1,156,680,000 | $144,000 | $2,575,000 | $102,000 | $4,648,000 |
| Not Provided | 1,396 | $215,130,000 | $154,000 | $2,205,000 | $109,000 | $5,800,000 |
| Hispanic | 871 | $103,615,000 | $118,000 | $805,000 | $80,000 | $3,857,000 |
| Black or African American | 863 | $116,165,000 | $134,000 | $3,005,000 | $81,000 | $1,673,000 |
| Not applicable | 808 | $380,200,000 | $470,000 | $60,855,000 | $170,000 | $900,000 |
| Asian | 213 | $50,445,000 | $236,000 | $1,275,000 | $163,000 | $1,475,000 |
| American Indian or Alaskan Native | 92 | $10,980,000 | $119,000 | $875,000 | $98,000 | $1,923,000 |
| Native Hawaiian or Other Pacific Islander | 11 | $1,585,000 | $144,000 | $445,000 | $96,000 | $224,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 9,909 | $1,562,695,000 | $157,000 | $60,855,000 | $108,000 | $5,800,000 |
| FHA-insured (Federal Housing Administration) | 1,821 | $356,885,000 | $195,000 | $55,675,000 | $66,000 | $278,000 |
| VA-guaranteed (Veterans Administration) | 523 | $117,335,000 | $224,000 | $915,000 | $83,000 | $326,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 44 | $7,070,000 | $160,000 | $365,000 | $72,000 | $141,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 7,046 | $1,273,700,000 | $180,000 | $60,855,000 | $110,000 | $5,800,000 |
| Application Denied By Financial Institution | 2,267 | $280,745,000 | $123,000 | $55,675,000 | $79,000 | $2,911,000 |
| Application Withdrawn By Applicant | 1,239 | $208,165,000 | $168,000 | $2,575,000 | $101,000 | $1,800,000 |
| Loan Purchased By The Institution | 857 | $165,775,000 | $193,000 | $1,085,000 | $79,000 | $900,000 |
| Application Approved But Not Accepted | 432 | $51,100,000 | $118,000 | $2,115,000 | $98,000 | $1,049,000 |
| File Closed For Incompleteness | 422 | $58,880,000 | $139,000 | $1,205,000 | $96,000 | $4,648,000 |
| Preapproval Approved but not Accepted | 26 | $4,180,000 | $160,000 | $345,000 | $58,000 | $103,000 |
| Preapproval Denied by Financial Institution | 8 | $1,440,000 | $180,000 | $405,000 | $69,000 | $138,000 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 9,988 | $1,755,910,000 | $175,000 | $60,855,000 | $106,000 | $5,800,000 |
| Credit History | 663 | $49,475,000 | $74,000 | $725,000 | $81,000 | $1,080,000 |
| Debt-To-Income Ratio | 615 | $124,045,000 | $201,000 | $55,675,000 | $63,000 | $1,232,000 |
| Collateral | 364 | $43,500,000 | $119,000 | $1,365,000 | $102,000 | $2,911,000 |
| Unverifiable Information | 233 | $22,085,000 | $94,000 | $625,000 | $84,000 | $672,000 |
| Credit Application Incomplete | 231 | $25,845,000 | $111,000 | $885,000 | $91,000 | $452,000 |
| Other | 145 | $15,675,000 | $108,000 | $565,000 | $85,000 | $643,000 |
| Employment History | 31 | $3,825,000 | $123,000 | $325,000 | $81,000 | $835,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 27 | $3,625,000 | $134,000 | $325,000 | $68,000 | $183,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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